The biggest concern for any employee is the salary. It is the main motivating factor too. The excitement about payday is seen in all organizations and at all levels within them as it is the actual fruit of the hard work they do throughout the month. The swiftness in processing of salary from the concerned department can do wonders to organization environment and can say a lot about the robust management of the company. But, human is not a perfect being. There can be some unwanted errors when payroll is processed manually leading to unnecessary arguments and employee demotivation.
All such problematic issues pertaining to salary can be resolved using payroll processing module of a wholesome performance management software. This software does error-free job by:
- Calculating the work days correctly: The organization can integrate the attendance recording systems with this software. The tamper-proof figures are exported to the software and the only thing user requires doing is clicking the ‘calculate salary’ tab. The user need to feed the agreed upon salary figure per work day and paid leave in the system at the start. And, accordingly, the salary computation is done flawlessly and very fast.
- Recovering the excess salary: When an employee chooses to leave the job, his total working days, leaves taken and salary given to the employee are found out. The software calculates the salary due or salary to be recovered and same is applied to full and final settlement. Thus, any excess salary given to the employee throughout the work term can be recovered error-free with payroll processing.
- Finding tax liability: The payroll processing tool intimates to the employees one very important information, i.e. the tax liability. Some organizations deduct the TDS from salary and give relevant proof of deduction at the end of the financial year. These forms are stored in secure manner in the employee account which he can access at the time of filing return on income tax.
Thus, using payroll processing module, it becomes easier for the concerned department to manage salary issues professionally and more importantly, correctly earning the employees’ faith in the process.